A financial product regime refers to the comprehensive set of laws, regulations, and supervisory practices governing the creation, distribution, and trading of financial products within a jurisdiction. This framework dictates how financial instruments are defined, who can offer them, and the protections afforded to consumers. It establishes the operational boundaries for financial institutions. The regime ensures market integrity and investor protection.
Context
The financial product regime is a central topic in the regulation of digital assets, as authorities determine whether cryptocurrencies or tokens fit existing classifications. A key debate concerns adapting traditional financial regulations to the novel characteristics of digital assets without stifling innovation. Future developments will likely involve the creation of specialized regulatory categories for digital assets, aiming to provide clarity and consistency for market participants and consumers alike.
Australia's Draft Bill mandates an AFSL for all custodial digital asset platforms, fundamentally restructuring compliance obligations for market access.
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